NFTs, or non-fungible tokens, have recently gained attention due to their skyrocketing value.
They have altered how people perceive art, and investors have taken note.
The NFT market produced over $25 billion in trading volume in 2021.
The market is still booming, despite the fact that the enthusiasm has somewhat subsided in recent months.
What precisely are NFTs, then?
Simply simply, they are irreplaceable, unique digital assets.
This is due to the fact that every NFT is kept on a blockchain, a decentralised ledger that keeps track of every transaction.
Because of this, NFTs are immutable, which means they cannot be changed or copied.
Will the NFT market keep expanding?
Time will only tell.
We’ll examine the top 17 most expensive crypto art NFTs currently.
1. Larva Labs: “CryptoPunk #9998” (Sold for $529.77 Million)
2. Pak: “The Merge” (Sold for $91.8 Million) (The Actual Top-Selling NFT)
3. Beeple: “Everydays: the First 5000 Days” (Sold for $69.44 Million)
4. Pak x Assange: “Clock” (Sold for $52.7 Million)
5. Beeple: “HUMAN ONE” (Sold for $28.9 Million)
Why do Bored Ape NFTs cost so much?
The first is that there are only 10,000 distinct Bored Ape NFTs in existence.
Because they are so uncommon, certain permutations are highly prized by collectors.
The collection’s artwork is regarded as being of higher quality than that of many previous NFTs, which can have a lot of pixelation.